The global chondroitin sulfate market will derive growth from recent product advancements. According to a report by Fortune Business Insights, titled “Chondroitin Sulfate Market Size, Share & Industry Analysis, By Source (Bovine, Porcine, Aquatic Animal, Others), By Applications (Pharmaceuticals, Nutraceuticals, Cosmetics and Personal Care, Pet Food Industry, Others), By Distribution Channel (Mass Merchandisers, Pharmacies, Specialty Stores, Online Retails) and Regional Forecast, 2019-2026,” the market will benefit from the emphasis on vegan products.
Some of the major companies that are present in the global Chondroitin Sulfate Market are
- Qingdao WanTuMing Biological Products
- Seikagaku Corporation
- Bioiberica S.A.U.
- Yantai Ruikangda Biochemical Products Co., Ltd
- Shandong Runxin Biotechnology Co., Ltd.
- Pacific Rainbow International Inc.
- TSI Group Ltd.
- Synutra Ingredients and Summit Nutritionals International.
Chondroitin sulfate is a chemical that is normally found in cartilage around numerous joints in the human body. The substance is mostly derived from animal sources. It is used in conditions such as osteoarthritis and cataract and is normally used in combination with other substances such as glucosamine and hyaluronic acid. The product helps in joints in the building of joints and other damaged parts.
Key Segments Analysis:
- Aquatic Animal
- Others (Poultry and Microbial Sources)
- Cosmetics and Personal Care
- Pet Food Industry
- Others (Aqua Feed and Veterinary)
By Distribution Channel
- Mass Merchandisers
- Specialty Stores
- Online Retails
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Variations in delivery modes of chondroitin sulfate such as oral, gels, and intravenous have led to a wider product adoption across diverse applications. The substance is widely used in dietary supplements, owing to exceptional properties across such as tissue elasticity and water retention. The favourable product properties will have a direct impact on the growth of the global chondroitin sulfate market in the forthcoming years.
The report provides an in-depth analysis of the global chondroitin sulfate market. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years.
Increasing Number of Product Launches Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of product launches have made the highest impact on market growth. In January 2018, Bioiberica S.A.U. announced the launch of a new generation of chondroprotectors. The product was aimed at treatment of animals and cats. The product was aimed at the market in Barcelona and was designed for reducing osteoarthritis among animals. Bioiberica’s latest product will not only help the company generate substantial market revenue, but will have a positive impact on the growth of the market in the coming years.
Asia Pacific Holds Massive Potential; Presence of Several Large Scale Companies to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in Asia Pacific holds a high potential for the forthcoming years. Agriculture is the primary source of several products accounting to which the economy of the country is vastly dependant on it. The increasing number of mammals and cattle in emerging countries such as India, China, and Thailand will aid the growth of the market in this region.
November 2018: The American Company announced the launch of a new product derived from non-animal chondroitin sulfate. Mythocondro is 100% vegan product that is made available to people in the United States and caters to the vegan population.
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